LIQUIDITY AND CAPITAL RESOURCES	6 Months Ended
Dec. 31, 2024
Liquidity And Capital Resources
LIQUIDITY AND CAPITAL RESOURCES	NOTE 2. LIQUIDITY AND CAPITAL RESOURCES In December 2024, the Company completed a Securities Purchase Agreement (“SPA”) with an institutional investor selling 1.99 million shares of common stock and prefunded warrants to purchase up to 0.76 million shares of common stock that resulted in total net cash proceeds to the Company of $6.79 million. See Note 10. As of the date that this financial statement was issued, the Company’s cash position was approximately $8.6 million, accounts receivable was approximately $0.80 million, contracted revenue backlog to be collected within one year was approximately $4.5 million, and the only non-operational liability is the potential $3.0 million cash payment of contingent consideration related to the Brightline Interactive, LLC (“BLI”) acquisition. As part of its previously announced strategic realignment around Spatial Computing and divestiture of non-core assets, net cash provided by operating activities was approximately $0.17 million for the three months ended December 31, 2024 and is expected to continue to be positive over the next twelve months. As such, the Company believes that it is sufficiently funded to meet its operational plan and future obligations beyond the 12-month period from the date that these financial statements were issued. Given the above, doubt about the Company’s ability to continue as a going concern was alleviated and the accompanying consolidated financial statements have been prepared assuming the Company will continue as a going concern.

LIQUIDITY AND CAPITAL RESOURCES

6 Months Ended

Dec. 31, 2024

NOTE 2. LIQUIDITY AND CAPITAL RESOURCES

In December 2024, the Company completed a Securities Purchase Agreement (“SPA”) with an institutional investor selling 1.99 million shares of common stock and prefunded warrants to purchase up to 0.76 million shares of common stock that resulted in total net cash proceeds to the Company of $6.79 million. See Note 10.

As of the date that this financial statement was issued, the Company’s cash position was approximately $8.6 million, accounts receivable was approximately $0.80 million, contracted revenue backlog to be collected within one year was approximately $4.5 million, and the only non-operational liability is the potential $3.0 million cash payment of contingent consideration related to the Brightline Interactive, LLC (“BLI”) acquisition. As part of its previously announced strategic realignment around Spatial Computing and divestiture of non-core assets, net cash provided by operating activities was approximately $0.17 million for the three months ended December 31, 2024 and is expected to continue to be positive over the next twelve months. As such, the Company believes that it is sufficiently funded to meet its operational plan and future obligations beyond the 12-month period from the date that these financial statements were issued.

Given the above, doubt about the Company’s ability to continue as a going concern was alleviated and the accompanying consolidated financial statements have been prepared assuming the Company will continue as a going concern.